Market Research Future published a research report on “Low Power Wide Area Network (LPWAN) Market Research Report- Global Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Low Power Wide Area Network Global Market – Overview

Low Power Wide Area Network (LPWAN) is a type of network and the prevailing technology choice for building IoT networks, worldwide, allowing long range communication at a low-bit rate. LPWAN offers a very compelling mix of long range, low power consumption and secure data transmission.

As a result, its market is growing pervasively. Moreover, some of the major factors such as the Increasing number IoT/M2M applications and rising need of long-range connectivity between devices are escalating the market on the global platform.

Recognizing the huge traction, the market perceives currently and gauging the potential of the market to grow in the future; Market Research Future (MRFR), in its recently published market study report asserts that the global Low Power Wide Area Network Market will reach approximately 75 BN USD, posting a magnificent CAGR of around 72% throughout the forecast period (2017 – 2023).

LPWAN technology finds its integration in a range of application areas such as the cars, manufacturing equipment, street lights, home appliances, and wearable devices. Additional factors fostering the growth of the LPWAN market include the increasing demand for low cost and low power consumption of LPWAN technology and growing demand for LPWAN services from various end users.

The European region dominates the global low power wide area network (LPWAN) market followed by North America and Asia Pacific region, respectively. Factors impacting the growth of the regional market include the technological advancements and proliferation of intelligent connected devices among others. Moreover, the presence of a well-established infrastructure fosters market growth, allowing faster implementation of advanced technologies.

North America is a hub for a large number of enterprises and early adopter of innovative technology, and hence, offers a favorable platform to the low power wide area network (LPWAN) to evolve significantly. The region perceives a higher growth in terms of advancements in technology, manufacturing processes operations, and industrial infrastructure. Resultantly, the market in this region is increasing rapidly. Also, factors such as the presence of major market players, rising mobile workforces, and a spurting demand for high-speed data services are some of the key driving forces behind the growth of the regional market.

The Asia Pacific region has become another lucrative market for LPWAN following the North American market closely. The market in the APAC is growing significantly due to the factors such as the increasing opportunities in the developing countries which are inclined toward automation, adopting increasingly cloud services.

Moreover, the market proliferation of mobile devices, wide adoption of cloud-based solutions among SME & large enterprises, and developments in the IT sector are some of the major factors fostering the growth of the regional market. Additionally, the increasing numbers of prominent players in this market drive the market growth continually innovating and presenting cost-effective secured low power LPWAN solutions.

December 11, 2018 — Sigfox U.S.A., a network operator for the global Low Power Wide Area Network (LPWAN) connectivity provider Sigfox(the US), announced that its selection by Gloucester Innovation as the Internet of Things (IoT) network of choice to capture ocean floor data with every small device that could ultimately attach to more than 300,000 Massachusetts lobster traps.

Through the LobsterNet, Sigfox provides Gloucester Innovation with low power wide area connectivity which will allow the devices to transmit oceanic acidity, depth, temperature, and other ocean floor information on a daily basis.

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